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The cryptocurrency market is experiencing a downward trend. The Fear & Greed Index is currently at 30, indicating a high level of fear among investors. As the market declines, Bitcoin has dropped by 1.50%, trading at $55,944. This decline has influenced various tokens, which show losses on their daily charts.
Despite the bearish trend, some altcoins display signs of potential growth. Investors are actively searching for the best crypto to buy now, hoping to find opportunities that could yield significant returns amid the market downturn.
Best Crypto to Buy Now
Render Network has rolled out cloud storage integrations with Dropbox and AWS S3 to enable users, especially artists and studios, to transfer files seamlessly between Render and these popular cloud storage services. Meanwhile, Shiba Shootout has successfully raised over $1 million during its presale phase. Additionally, MANTRA is attracting attention in the crypto market, with recent technical patterns suggesting possible price shifts that could impact investor decisions.
1. Render (RENDER)
Render Network has introduced cloud storage integrations for Dropbox and AWS S3. These integrations allow users, particularly artists and studios, to transfer files directly between Render and these major cloud storage platforms.
The new feature streamlines workflows by reducing the need for extra downloads and uploads when working on Render. This could benefit teams collaborating on large projects by improving efficiency. Currently, support is limited to Dropbox and AWS S3, but Render plans to expand to over 60 cloud storage options.
Meanwhile, the RENDER Token is experiencing a short-term decline. It’s trading at $4.68, down 3.40% intraday. Despite this drop, the token has grown significantly, with a 242.69% increase year-to-date. Moreover, analysts have observed a notable increase in on-chain activity, with large holders accumulating RENDER tokens in recent months.
We're thrilled to release @rendernetwork cloud storage integrations for Dropbox and AWS S3, enabling artists and studios to download files directly from the Render Network to cloud storage providers, without the friction of additional downloads and uploads.
Support is releasing…
— The Render Network (@rendernetwork) September 5, 2024
This could indicate growing confidence among large investors in the platform’s long-term potential. Furthermore, the 14-day Relative Strength Index (RSI) is currently at 42.66, which is considered neutral. This suggests the token may continue trading in a sideways pattern for now.
Additionally, the RENDER Token has high liquidity, reflected in its volume-to-market cap ratio of 0.0623. In addition, while the token faces short-term price challenges, these recent developments and whale accumulation point to potential long-term growth for Render Network.
2. Arbitrum (ARB)
Arbitrum aims to address Ethereum’s long-standing scalability issues through optimistic rollups. This structure makes dApps on Ethereum more efficient, tackling the network’s congestion and cost challenges. Token holders can participate in decision-making processes, such as protocol development and the election of a Security Council responsible for safeguarding the platform.
Recently, Offchain Labs launched Arbitrum Stylus on the mainnet, marking a key milestone for decentralized application development. Arbitrum Stylus introduces a virtual machine that remains backward-compatible, simplifying the transition for traditional developers entering the Web3 space.
This update expands the potential of the Arbitrum ecosystem by providing developers with additional tools to build robust Web3 applications with reduced gas fees. The deployment of Arbitrum Stylus on the mainnet signals growth for the platform, further enhancing its capabilities for dApp development.
It’s been three years of building together on Arbitrum.
Today, we bring you Stylus! Designed to drive innovation and foster collaboration across blockchains.
Stylus is now on mainnet. Open new doors. Shape what's ahead.
Do More. With Stylus. pic.twitter.com/BlowVX4lXB
— Arbitrum (💙,🧡) (@arbitrum) September 3, 2024
Following the launch, the ARB token experienced a modest price increase. It is currently valued at $0.4966, with an intraday rise of 0.22%. The token briefly touched $0.5041 earlier in the day before stabilizing.
According to CoinMarketCap, ARB has a market capitalization of $1.7 billion and is in the 43rd position by market cap. Analysts have a cautiously optimistic outlook for ARB. Coincodex’s price prediction suggests the token could reach $1.65 by October, reflecting a potentially bullish trajectory.
3. MANTRA (OM)
MANTRA is gaining attention in the crypto market due to recent technical patterns that may indicate potential price movements. The token saw a 10% increase after it retested the $1 resistance level for the first time since August 25. This rise marks a 15% increase from its lowest point earlier in the week, demonstrating short-term positive momentum.
Moreover, another factor contributing to MANTRA’s upward trend is the release of a new version of Mantra Zone, a platform designed to allow users to earn rewards and engage in various on-chain activities. This update has attracted increased attention to the ecosystem, driving user engagement and token demand.
Additionally, the rise in MANTRA’s staking yield has boosted its value. According to data from StakingRewards, MANTRA offers one of the highest staking yields, likely contributing to its growing popularity.
Currently, the token is trading at $0.923, with a slight intraday increase of 0.91%. It also performs well from a technical standpoint, as it trades above the 200-day simple moving average, which typically signals a long-term bullish trend. The token has also shown resilience, with 15 positive days over the past 30 days, a strong indicator of consistent performance.
https://t.co/hWhz3xVRKb just got a new look. Visit the upgraded dashboard for:
✅ Seamless wallet connection.
🔥 Participation in ongoing onchain missions.
🧘 Depositing $USDC into the Chakra Pool to earn KARMA and exclusive rewards.
🕉️ Exploring the MANTRA ecosystem.… pic.twitter.com/pMBn6JiOmQ
— MANTRA – Tokenizing RWAs 🕉️ (@MANTRA_Chain) September 3, 2024
MANTRA benefits from high liquidity, which is favorable for buyers and sellers. This liquidity makes entering and exiting positions easier without large price fluctuations. This liquidity, coupled with the token’s performance relative to its token sale price, suggests stability in the market.
Furthermore, the token is experiencing positive short-term momentum, driven by technical factors, staking rewards, and new platform updates. It’s showing solid performance indicators, including strong liquidity and a favorable price trend compared to its sale price.
4. Sui (SUI)
Sui blockchain has been developing a new approach to facilitating cryptocurrency transactions without relying on internet access. Mysten Labs, the team behind Sui, has introduced “internet-less transactions,” which aim to ensure uninterrupted crypto flows even in scenarios where traditional internet access is unavailable.
According to Abiodun, one of Mysten Labs’ co-founders, the blockchain intends to utilize alternative communication methods, such as mobile networks or even radio waves, to transmit crypto transactions when internet services fail. The research team has successfully experimented with transmitting transactions over long-distance radio waves, including underwater transmissions, and has optimized the process by compressing transaction data.
This allows the transactions to be sent through a simple text message, making them feasible even in low-bandwidth environments. This concept could significantly impact the crypto space, particularly for unilateral payments or transactions where only one party needs to confirm the transfer.
As per Abiodun, the system has already been tested and shown promising results. The next step for Sui is to integrate this technology into Internet of Things (IoT) devices. This development may also prove beneficial for decentralized physical infrastructure networks (DePIN), another area Sui is exploring.
The potential for “internet-less” crypto transactions is expected to generate interest from investors and participants in the crypto market, potentially boosting the value of the Sui network and its native token, SUI. Currently, the SUI token is trading at $0.8408, showing an intraday increase of 2.66%.
Moreover, SUI is trading above its 200-day simple moving average (SMA), which is generally seen as a positive performance indicator. The token also benefits from strong liquidity, supported by its market capitalization.
5. Shiba Shootout (SHIBASHOOT)
Shiba Shootout introduces a Wild West-themed cryptocurrency project centered around its main character, Marshal Shiba, who embodies a cowboy-like figure in the fictional Shiba Gulch. The project aims to create an immersive experience with various features tied to this thematic setting.
The project features the Cactus Staking mechanism that allows holders of the SHIBASHOOT token to lock their assets in return for rewards. At the time of writing, the platform offers an impressive annual percentage yield (APY) exceeding 868%, and more than 38 million tokens are already staked.
In addition to staking, SHIBASHOOT encourages community participation through Token Governance Roundups. These allow token holders to vote on crucial project decisions, directly influencing the project’s development. Another interactive feature is the Lucky Lasso Lotteries, a token-based lottery system where users can win prizes through regular draws.
Furthermore, the project introduced a play-to-earn (P2E) game, Shiba Sharpshooter, currently available for mobile platforms. In this game, users can earn in-game rewards while engaging in gameplay, a feature growing in popularity in the blockchain space.
🚀 Ready for the $SHIBASHOOT presale? 🎯
1️⃣ Get a crypto wallet
2️⃣ Visit our website’s presale section
3️⃣ Connect your wallet
4️⃣ Swap your crypto for $SHIBASHOOT tokens🔗 Detailed info & schedule on our site. Don't miss out on this digital duel! 🌐https://t.co/Fxf9PWPy67 pic.twitter.com/B0gWNh62v1
— shibashootout (@shibashootout) September 6, 2024
Additionally, the ecosystem is developing a Web3 application to enhance the overall gaming experience, potentially adding more interactive and decentralized user features. The project has successfully raised over $1 million in its presale phase, reflecting a degree of early investor interest. SHIBASHOOT, priced at $0.0201, offers staking rewards and leaderboard bonuses, encouraging community engagement and long-term holding.
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